1804 ET - Just a week after Skechers agreed to go private, Dick's Sporting Goods is nearing a deal to buy Foot Locker, according to a Wall Street Journal report. The Skechers deal prices shares at a roughly 30% premium, while discussions regarding a Foot Locker deal imply an almost 90% premium. Sneaker and footwear companies have come under pressure in recent weeks as President Trump's tariff plans from last month threatened to hit their China and Asia-focused supply chains. Skechers's stock has fallen around 8% this year while Foot Locker has tanked over 40%, though both have gotten some reprieve from a scale back in tariffs on China and from their respective deals. (kelly.cloonan@wsj.com)
(END) Dow Jones Newswires
May 14, 2025 18:04 ET (22:04 GMT)
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